Gwyneth Paltrow arrives before the 84th Academy Awards on Sunday, Feb. 26, 2012, in the Hollywood section of Los Angeles.

Much like Formula I racing, the sport of red-carpet walking is a matter of a few winners and some dramatic wrecks. 2012′s red carpets produced plenty of both. Without ado, let’s remember, with ahhhs and groans.

Check out the complete list of winners and losers by clicking on the slideshow tab.

About Speakeasy

Speakeasy is a blog covering media, entertainment, celebrity and the arts. The publication is produced by Barbara Chai and Jonathan Welsh with contributions from the Wall Street Journal staff and others. Write to us at speakeasy@wsj.com or follow us on Twitter at @WSJSpeakeasy or individually @barbarachai.